Annual time series data for the period 1950-51 through 1975-76 are used to estimate the price elasticity of aggregate Australian agricultural supply using two methods. The short-run elasticity is estimated to be highly inelastic but it has been increasing through time. The preferred estimate of...

In this paper the impact of changes in wool promotion expenditure and changes in expenditure on the promotion of competing fibres are examined using an equilibrium displacement model. The emphasis is on examining impacts on producer profits net of promotion expenditure and on benefit-cost ratios...

Certain market allocation problems involving linear average net revenue functions can be solved by linear programming. The technique can be applied to an objective function derived from linear marginal net revenue functions, the objective being to force each marginal net revenue as near to zero...

Vector autoregression (VAR) methods are used to analyse the contribution of supply, demand and policy shocks to unpredictable fluctuations in the market for Australian wool. VAR procedures are compared with conventional structural econometric models as methods for decomposing sources of...

A model is developed to show how changes in the elasticity of the supply function at the farm level offset increased levels of buyer (processor) concentration such that given percentage increases in demand by large buyers result in the same, or smaller, percentage price changes than do increases...

Evidence is provided on the extent to which wheat price policies operating over the period 1953-54 to 1983-84 achieved objectives related to the levels and stability of key industry variables. The general findings are that the levels of achievement have been modest and that trade-offs have been...

The primary objective in this paper is to 'promote' the use of equilibrium displacement modeling, or comparative static analysis of general function models, as a research tool in agricultural price and policy analyses. This is by no means a new tool, but it does seem to be used much less in...

An analytical framework is developed for assessing the relative gains accruing to co-operators and non co-operators in a cartel arrangement involving production quotas. Key parameters determining the relative gains are identified. The values of these parameters in the context of Australian...

In this paper a preliminary analysis is presented of a combined buffer-fund and buffer-stock as an alternative to a pure buffer-fund or a pure buffer stock for stabilising wool prices. The alternatives analysed are designed so that each provides the same prices to producers as did the Reserve...